The Haney Group: U.K. Estimates Grow on Gas Extraction

The Haney Group comments advising investors of the recent shale gas finding in the United Kingdom with estimates doubling in the north of England.

Hong Kong,July 17,2013/Free-Press-Release.com/ -- The Haney Group a boutique equity research and management firm based in Hong Kong founded by a diverse private wealth consortium of financial professionals, with a combined knowledge of the stock markets, tax legislation, legal compliance and market analysis. Priding themselves in giving the very best service to their institutional investors, high net worth individuals and private investors today commented on the new findings at shale gas fields in the United Kingdom.

The United Kingdom government is looking to replicate recent U.S. shale exploration figures that ignited a stimulus, cutting energy costs and boosting the economy. The U.K. has announced that their fields of shale gas in northern England are over double the size they had previously estimated, giving the country the capabilities to spur economic growth and replenish its depleted North Sea deposits, cutting energy imports.

“The next step for industry is to establish how much gas is technically and commercially recoverable,” Energy Minister Michael Fallon said in a statement. “We welcome the commitments from industry on community benefits. This will provide a welcome boost for communities who will host shale exploration and production.”

U.K. regions Lancashire and Yorkshire has estimated holdings of 1,300 trillion cubic feet of gas, the U.K. government plans to follow similar steps in the implantation of extraction procedures as the U.S. with a planned 10 percent extraction giving 130 trillion cubic feet a quantity that would the U.K. the ability to fulfill demand for approximately 47 years.